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insurance premiums for customers down the road. here in new york city, commerce has been crippled. and power is not expected to be restored in many areas until next week. i.h.s. global predicts that if the a as affected by sandy lose a quarter of their output for just two days, it would knock out $25 billion off u.s. economic growth in the fourth quarter. that could be as much a 0.6%. but longer-term, some of the financial losses should be recovered by repair and rebuilding eorts. home improvement stores like home depot and lowes wngl likely get a boost in sales. many construction jobs will be created to rebuild homes and businesses. and governments will be spending huge amounts of money to repesr subways, roads, and bridges sor allf those efforts should help boost economic activity early next year.e erika miller, "n.b.r. new york. >> susie: joining us now for a closer look at sandy's economic impact, mark zandi, chiefb. economist at moody's analytics. you know, mark, people often hear that when there's a sdater like zandi, that it's actually a boost to the economy. is that going to be rue i
york city, new jersey, and long island are up and running. for those who do get gas, they'll pay more for it. gasoline prices in the northeast have increased as much as 14 cents a gallon. >> tom: 1.3 million people are still without power tonight, one week after superstorm sandy. and as susie mentioned, temperatures are plummeting, as another storm approaches the northeast. having no power and no heat is one concern. but thousands of people have also been left homeless by the storm, and that is fueling worries about a housing shortage. erika miller reports. >> reporter: the new york city metropolitan area is slowly recovering after superstorm sandy. but many homes and businesses still don't have power, or heat. >> things that took months or ars bui are gone, how quickly we can get it back i'm not sure, but there will certainly be places that don't have power for a very long time. >> reporter: lack of power is more than just an inconvenience, it's also safety issue. temperatures have started hitting the low 30's, and a nor'easter is forecast later this week. so staying in unheated hom
. meanwhile, the effects of the monster storm are paralyzing much of new jersey and new york city here's an update: four and a half million people are still without power, and it could take another ten days before power is restored. limited flights have resumed at all of the airports in the new york area. public schools are still closed in the city, as well as many schools in new jersey. and filling up on gas is the toughest problem of all. gas stations are running dry, and others do not have electricity to pump gas. motorists lined by the hundreds in new jersey, waiting and hoping for fuel. still ahead, we have more on sandy: flood insurance, the cost of getting power turned back on, and the challenge of getting around america's busiest city. >> tom: october marked a pick-up in private hiring. that's the word from payroll processing firm adp. it says u.s. private payrolls grew by 158,000 positions in october. that higher than expected number comes as adp overhauls how it calculates the number by including more companies in its survey. darren gersh reports. >> reporter: the economic si
of the new york city marathon. that and more tonight on "n.b.r.!" we begin with jobs. employers beefed up their payrolls last month, adding more jobs than expected as more americans counted themselves among the labor force. the official labor department count shows 171,000 jobs were created last month. that's much stronger than the 125,000 analysts were looking for. and the government revised its september new job count up to 148,000. thanks to more people looking for work, the unemployment rate rose slightly to 7.9%. darren gersh has the story from washington d.c. >> reporter: the october employment report makes it clear a jobs recovery is solidly underway. >> i think the k message tre is that employment growth has been taken up a notch. over the last three months we've added over 170,000 jobs on average. that's a little bit better than what we've been seeing. that is enough over the long haul to bring the unemployment rate down, but slowly. >> reporter: one of the best things about this jobs report: payroll gains were broad-based. retailing added 36,000 jobs. health care 31,000 jobs. co
. >> tom: still ahead, the new york city marathon is cancelled. what it means for advertisers of this world class event. that encouraging employment report didn't do much for stocks on wall street. stocks oped higher, but sellers took over.d the dow closed down 139 points, the nasdaq lost almost 38 points, the s&p closed off 13. for the week, the dow fell 0.1%. the nasdaq was down 0.2%. the s&p gained 0.2% this week. we'll talk more about the marts a little later in the program with our friday market monitor guest.ts he's duncan richardson at eaton vance. an update on the aftermath of hurricane sandy now. with temperatures dropping, tempers are flaring in some areas struggling with no per and dwindling food and clean water. >> this is staten island. four days after hurricane sandy brought her destructive winds ng storm surge of atlantic seawater. across the hudson river from new york, some new jersey neighborhoods remain inundated with flood waters. low temperatures this weekend are forecast to be close toas freezing. the official count from the artment of energy had 3.6en million customers
's side, it will just be so much easier. so we're looking at like payment. >> reporter: in new york city, sabrina norrie and kelli space have an idea of their own, called zero bound. if students are struggling to pay debt in dollars, why not pay it through community service? they're still raising money, but once it's up and running, the company will help borrowers get donations in exchange for volunteer work. >> i thought, there's got to be a way we can get creative about this. and being involved in volunteer work, i thought, lets see if we can invest that education of students and alumni back into the community through volunteering. >> reporter: innovations like these have the support of the federal government, in a report last month, the consumer financial protection bureau said if they work, private businesses could play an important role in helping student borrowers pay down their debts. sylvia hall, "n.b.r.," washington. >> susie: for many people the holidays are typically a time to make charitable contributions. americans gave $200 billion to non-profits last year, and half of that
: that and more tonight on nbr! >> susie: federal reserve chairman ben bernanke came to new york city today to send a tough message back to washington-- get your act together. he urged lawmakers and the white house to reach a quick deal to avoid the fiscal cliff, saying it might mean next year could be "a very good one for the economy." ben bernanke didn't endorse any specific tax or spending policies to solve the fiscal cliff, but he urged lawmakers to think creatively. he said an agreement on ways to reduce long-term federal budget deficits could remove road blocks to growth. on the other hand, going over the cliff might mean a recession. on top of that, worries about a deal were already causing trouble. > uncertainty about how the fiscal cliff, the raising of the debt limit, and the longer-term budget situation will be addressed appears already to be affecting private spending and investment decisions, and may be contributing to an increased sense of caution in financial markets. >> susie: wall street and business leaders were pleased that bernanke was talking tough. and they said the fe
Search Results 0 to 28 of about 29 (some duplicates have been removed)

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